Personal Finance Help

Personal Finance Help

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Diversify to Lower Your Risk

Investment risk can be reduced through diversification. You can diversify by investing in different types of investments, across different geographies (countries) and over different points in time. Diversification can also, to some degree, reduce the overall risk of investing in higher return investments. Risk can be reduced by spreading the investment over different types of investments

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Types of Investments

There are so many different types of investments and investment products available today.  The main investment types to be familiar with are interest accounts, bonds, mutual funds, exchange traded funds (ETFs), and stocks. Interest Accounts include savings accounts and guaranteed investment certificates (GICs) obtained generally at regular banks but also at online banks which pay higher interest.  You

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Saving for the Future

Another important aspect of personal financial planning is saving for the future.  The types of savings may include real estate, personal assets and different types of saving/investing accounts.  Saving/investing accounts include bank chequing/saving accounts, guaranteed investment certificates or term deposits, and registered plans and investment accounts (stock/bond trading accounts).  Registered plans for Canadians include Registered

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Sources of Income

An important aspect of personal fianncial planning is identifying and understanding your sources of income into the future and into retirement.  In your earlier years this likely includes employment income and/or business income.  In the years between retiring from work and collecting government pension this may include company pension and planned registered retirement plan withdrawals. 

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